Home Loan Articles

First Home Loan Deposit Scheme: How To Secure Your Spot?

personOtto Dargan access_timeJune 26, 2020

It came as no surprise that first home buyers quickly snapped up all 10,000 places of the First Home Loan Deposit Scheme during the last financial year. Under the scheme, first home buyers with a 5% deposit saved anywhere between $10,000 and $30,000 in LMI fees based on the...

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Will Your Income Be Affected By The Coronavirus?

personOtto Dargan access_timeMarch 17, 2020

How will coronavirus affect employment? A long period of low unemployment has left many Australians unprepared for a period of reduced income. As social distancing, work from home and potentially lockdowns affect Australia it’s likely that many people will not be able to work...

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Tips For Business Owners During The Coronavirus Outbreak

personOtto Dargan access_timeMarch 17, 2020

Will your business be affected? The economic impact of the coronavirus could be as bad, or worse, than the Global Financial Crisis that occurred in 2008. What are the possible impacts? Supply chain disruption. Forced closure due to a lockdown, yet still being required to pay...

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Buying A Property During The Coronavirus Outbreak

personOtto Dargan access_timeMarch 17, 2020

Buy now or wait? Nobody can be sure what will happen with the Australian property market in the next year. What is likely is that the coronavirus will have significant economic impacts that will affect almost every industry. In the past, where unemployment rates have increased...

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Can I Refinance My Home Loan During The Coronavirus Outbreak?

personOtto Dargan access_timeMarch 17, 2020

It’s not just about health, the economy will suffer Governments around the world have been in a position to choose between the economy and health. Unfortunately, many have prioritised the economy and as a result, more drastic actions will need to be taken later. This pandemic...

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Coronavirus Mortgage Relief Options In Australia

personOtto Dargan access_timeMarch 16, 2020

What is financial hardship? With the global coronavirus pandemic, banks and lenders are stepping up to assist customers who are affected financially. If you have a home loan, struggling to make repayments for a specific period of time is considered to be financial hardship. How...

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How The First Home Loan Deposit Scheme Is Helping Millennials?

personOtto Dargan access_timeMarch 10, 2020

The Great Australian Dream is still alive for millennials in Australia, with 94% citing homeownership is important to them. A recent Genworth survey revealed that a majority of millennials want to buy a home as it provides them with stability and security. Unfortunately, for...

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27 Lenders Announced For The First Home Buyer Scheme

personOtto Dargan access_timeDecember 12, 2019

The National Housing Finance And Investment Corporation (NHFIC) has announced its full panel of lenders who’ll be offering the First Home Loan Deposit Scheme. Commonwealth Bank (CBA) joins National Australia Bank (NAB) as the second major participating bank in the government...

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How To Turn Your Deposit Into Genuine Savings?

personOtto Dargan access_timeDecember 2, 2019

Merely having a deposit is not enough! If you are borrowing more than 80% of the property value and you do not have a guarantor, then genuine savings is something that often catches out buyers. It essentially acts as proof that you can handle your money well; i.e. someone who...

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Can Afterpay Affect Your Home Loan Application?

personOtto Dargan access_timeOctober 31, 2019

Buy now pay later services like Afterpay and ZipPay are raising questions with lenders about a borrower’s ability to repay their home loan. It gives the impression that borrowers do not have sufficient amounts of cash on standby and are living paycheque to paycheque. Banks...

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